美石油生产商寄望“大而美”法案降成本

Group 1 - The "Big and Beautiful" Act aims to enhance the competitiveness of U.S. crude oil in the global market by reducing royalty rates and expediting environmental assessments for oil and gas projects [1] - The Act lowers the oil and gas extraction royalty rate from 18.75% to 12.5%, which is expected to improve the balance sheets of U.S. producers by reducing cash taxes [1] - Analysts predict that the average breakeven price for U.S. crude oil will be $54.09 per barrel by 2025, with over 80% of production in the Permian Basin having breakeven prices below $55 per barrel [1] Group 2 - S&P Global Commodity Insights forecasts a decline in U.S. crude oil production from 13.5 million barrels per day in September 2023 to 13.1 million barrels per day by September 2026, with a potential recovery only if oil prices rise significantly [2] - The "Big and Beautiful" Act includes a provision for 100% bonus depreciation, which is expected to alleviate balance sheet pressures for companies like ConocoPhillips, potentially generating $500 million in benefits [2] - The Act permanently reinstates the 100% deduction for research and experimental expenses, which is projected to benefit EOG Resources by approximately $200 million in 2025 [3] Group 3 - Tax provisions in the Act are expected to incentivize increased investment in domestic shale oil production, with companies anticipating significantly reduced cash taxes in the coming years [3] - The combined effects of tax and regulatory benefits from the Act are expected to offset rising costs from tariffs on steel and other materials for producers [3]